I would like to extend my greetings as we enter the new year, 2026.

Last year, the Nippon TV Group-building on strong performance in broadcasting, media-related businesses, and content creation-embarked on a bold, full-scale initiative aimed at evolving into one of Japan's foremost global content creators, under the slogan "Gear up, go global" as outlined in our Medium-Term Management Plan 2025-2027.
As part of our commitment to strategically promote Nippon TV content worldwide, we established Gyokuro Studio, a production hub dedicated to developing overseas adaptations of our variety show formats (unscripted content). In December 2025, our variety show ANTS won the Comedy Entertainment prize at the Rose d'Or Awards-Europe's most prestigious television honors-making it the only Asian production among the winners. Furthermore, in September 2025, both ANTS and the drama The Hot Spot received Gold Awards at the ContentAsia Awards 2025, reaffirming that the power of content truly transcends borders.
Our journey to becoming a global content creator is not without challenges. Nevertheless, we remain steadfast in our resolve, guided by our management vision: "Change the 'World' Through the Power of Content."

On the other hand, 2025 was a year in which the governance of television networks came under intense scrutiny. The Nippon TV Group companies have made strict compliance a top management priority. We are committed to recognizing issues accurately, correcting them immediately where necessary, and advancing proper governance within our company and across the Group.
In addition, to promote governance, we have established the "Nippon TV Principles" as an action to protect people and the future, sharing and implementing them as a code of conduct for all employees of the Nippon TV Group.
Furthermore, the 29 companies that are members of the Nippon Television Network System (NNS) have launched initiatives to support corporate governance at each company by establishing the "NNS Governance Support Office." Collaboration with FYCS HOLDINGS is also under consideration.

As the media environment undergoes significant changes, we believe it is essential to reaffirm the roles and responsibilities that television must fulfill in society. In the online space, the negative aspects of echo chambers, filter bubbles, and the attention economy are fueling the spread of fake news. Now more than ever, we are convinced that the pursuit of reliability-broadcasting's public mission-is our greatest responsibility and the very foundation of our existence as a media organization. We will strengthen our organizational efforts in fact-checking and deliver accurate, timely, and fair, impartial news.

The broadcasting business-the core of our Group-continues to deliver strong performance. This year, we are elevating our programming strategy by reinforcing the basic timetable through programming revisions and positioning highly festive content under the strategic key phrase: "Creating must-view shows for you and your community." Through these initiatives, we aim to amplify television's unique value as a shared experience and reclaim the industry's top position. We will sharpen our insight and boldly surpass viewers' expectations.
While we have consistently maintained our strategic goal of achieving Triple Crown core viewer ratings-viewers aged 13 to 49-this year's objective is to halt the decline in core viewer ratings, increase the absolute viewership, and widen the gap with the second-ranking station.

Regarding the utilization of cutting-edge technology such as generative AI, we are proactively implementing AI agents in content planning and production to optimize limited resources and strengthen creative capabilities. In addition, Ad Reach MAX (Sugree), which was launched in April 2025, aims to transform the terrestrial broadcasting business by leveraging ad tech. We have already announced our collaboration with TOKYO BROADCASTING SYSTEM TELEVISION, INC., but to establish this as a new commercial framework and transaction flow, our goal is to work with multiple stations, including other key broadcasters in Tokyo.

This year marks the 12th time I have chosen a Kanji of the Year to guide me at New Year. Since becoming president, I have shared this character as a guiding principle for the Group. For the first time, I have selected the same character for two consecutive years: 動, which means "move"-to move forward and to inspire movement in others.
If a goal still lies beyond our reach, let us move toward it without giving up. When we achieve that goal, let us set the next one and keep moving forward. Standing still will only leave us vulnerable to the inevitable waves of change and the rapid transformation of the media and business environment.
At Nippon TV Group, united as 10,000 employees and executives, we will move the times as one.

I wish you continued success and all the best in the year ahead, and I sincerely look forward to your support.

Sincerely,
Hiroyuki Fukuda
Representative Director, President and COO
Nippon Television Holdings, Inc.
Nippon Television Network Corporation